Commissioner's Plan
| Plan Administrator: | MN State Retirement System |
| Plan Type: | Defined Benefit |
| Participation: | Mandatory |
| Contribution Amount: | Effective July 1, 2009 (Fiscal Year 2009) Employee = 4.50% Employer = 4.50% |
| Effective July 1, 2009 (Fiscal Year 2010) Employee = 4.75% Employer = 4.75% | |
| Effective July 1, 2009 (Fiscal Year 2011) Employee = 5.00% Employer = 5.00% |
| Plan Administrator: | MN State Retirement System |
| Participation: | Voluntary |
| Contribution Amount: | $10 minimum up to 100% of taxable income not to exceed $16,500 in 2009; $22,000 for age 50+. (Catch-up provision limit of $33,000 for 2009.) |
| Eligible for Voluntary State Matching: | * Yes, (limited to those employees who do not participate in the SRP) up to $300 per fiscal year or vacation conversion after one year in Commissioner's Plan. |
| Leave Conversion: | * Yes. (Limited to those employees who do not participate in the SRP) May elect either state match or vacation conversion each fiscal year. Vacation Conversion: After six (6) months of service, employee may convert up to 40 hours vacation once per fiscal year (1 hour for each 3 hours used in previous fiscal year). Convert up to 40 hours comp time once per fiscal year. |
| * May be limited to fiscal years covered by bargaining agreement. |
| Plan Administrator: | TIAA-CREF |
| Participation: | Voluntary |
| Contribution Amount: | Up to 100% of taxable income not to exceed $16,500 in 2009; $22,000 for age 50+. (Special catch-up of $15,500 for those with 15+ years of service.) |
| Eligible for Voluntary State Matching: | No |
| Leave Conversion: | No |
